Trump Media & Technology Group (TMTG) is a free-speech oriented social and media content platform company, founded in 2021 in Atlanta, Georgia. TRUTH Social, TMTG’s proprietary social media platform, will provide an outlet that encourages open global conversation without discrimination against political ideologies. TMTG+, the Company’s subscription-based video streaming service, is expected to include access to entertainment with mainstream appeal including news, movies, TV series, documentaries, podcasts and more.
Digital World Acquisition Corp. (NASDAQ: DWAC) (“DWAC”) announced a definitive merger agreement with TMTG on October 20, 2021. Upon a successful merger completion, DWAC shareholders will become shareholders in the public company TMTG.
Digital World Acquisition Corp. (NASDAQ: DWAC) completed its initial public offering in September 2021, raising approximately $293 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. DWAC’s strategy is to identify and complete business combinations with technology-focused, market leading companies. DWAC announced a definitive merger agreement with TMTG on October 20, 2021. Upon a successful merger completion, DWAC shareholders will become shareholders in the public company TMTG. For more information on DWAC, please visit www.dwacspac.com
A special purpose acquisition company, also known as a ‘blank check company,’ is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making the private company public without going through the traditional initial public offering process.
TMTG is not currently public. The Company has announced its intent to become public via SPAC (Special Purpose Acquisition Company) merger with Nasdaq listed, DWAC on October 20, 2021. This definitive merger agreement will result in TMTG becoming a publicly listed company, subject to regulatory and stockholder approval. Upon a successful merger completion, DWAC shareholders will become shareholders in the public company TMTG.
All of the trading in DWAC shares is based on speculation regarding the timing of the closing of the merger. TMTG can give no assurances that it will be able to obtain all the necessary regulatory clearances. There have been a number of calls for investigations of the events leading up to the announcement of the merger. Any, or all, of these could significantly delay, or prevent, the closing of the merger. TMTG can give no assurances that these investigations will not lead to a cancellation of the merger transaction, either as a result of DWAC and TMTG cancelling the merger or the investigators taking action to block the merger.
TMTG will become the publicly traded entity upon merger completion, also known as de-SPAC, with DWAC. This transaction is subject to approval by stockholders of both DWAC and TMTG and other customary closing conditions, including any applicable regulatory approvals. Upon a successful merger completion, DWAC shareholders will become shareholders in the public company TMTG.
All shareholders will be notified via proxy of the upcoming shareholder vote. In addition, DWAC and TMTG will issue a press release which will include the date and time of the shareholder meeting, as well voting instructions.
TMTG and DWAC have not publicly disclosed the intended timeframe for merger completion. As the Company makes progress towards merger completion, public updates will be provided in the form of press releases and SEC filings.
Our 45th President, Donald J. Trump, is Chairman of TMTG and will remain in this role upon merger completion.
You can access press releases issued by TMTG here. Press releases issued by DWAC can be found here.
As DWAC is currently the publicly traded entity, you can access the DWAC’s SEC filings here.
To sign up for future news releases, please utilize the e-mail alert feature, found here.
The public investor presentation can be accessed here.
TRUTH Social – TMTG’s social network – is America’s “Big Tent” social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology. The app is currently available for pre-order in the Apple App store.
TRUTH Social plans to begin its Beta Launch for invited guests in November 2021. A nationwide rollout is expected in the first quarter of 2022.
For those interested in joining, please visit www.truthsocial.com to sign up for an invitation.
TMTG+ is a video-on-demand service. TMTG+ will feature ‘non-woke’ entertainment programming with mainstream appeal including news, movies, TV series, sporting events, documentaries, podcasts and more.